Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $83.77 and last traded at $83.7330, with a volume of 1691147 shares changing hands. The stock had previously closed at $83.67.
Analyst Upgrades and Downgrades
Several research firms have commented on CRNX. Evercore lowered Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer reissued a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. HC Wainwright cut shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their target price for the company from $81.00 to $85.00 in a report on Tuesday, July 7th. JonesTrading downgraded shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research report on Tuesday, July 7th. Finally, UBS Group started coverage on shares of Crinetics Pharmaceuticals in a research note on Thursday, July 2nd. They set a “buy” rating and a $55.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.27.
View Our Latest Stock Analysis on CRNX
Crinetics Pharmaceuticals Stock Up 0.1%
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.01). The firm had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The business’s quarterly revenue was up 2873.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.04) earnings per share. Equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current fiscal year.
Insider Transactions at Crinetics Pharmaceuticals
In other Crinetics Pharmaceuticals news, Director Coelho Rogerio Vivaldi sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the director owned 19,225 shares of the company’s stock, valued at approximately $769,000. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the transaction, the director owned 6,400 shares in the company, valued at $228,288. The trade was a 51.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.
Institutional Trading of Crinetics Pharmaceuticals
Several hedge funds have recently modified their holdings of CRNX. Smartleaf Asset Management LLC grew its holdings in Crinetics Pharmaceuticals by 107.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after acquiring an additional 331 shares during the period. Headlands Technologies LLC acquired a new stake in Crinetics Pharmaceuticals in the second quarter valued at $30,000. Parallel Advisors LLC boosted its position in shares of Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares in the last quarter. Arax Advisory Partners boosted its position in shares of Crinetics Pharmaceuticals by 131.2% during the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock worth $70,000 after purchasing an additional 850 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter worth $45,000. 98.51% of the stock is owned by institutional investors and hedge funds.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.
The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.
Featured Stories
- Five stocks we like better than Crinetics Pharmaceuticals
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
- 3 Energy Stocks Racing to Fix AI’s Power Problem
- No Space For Panic: T-Mobile Shrugs Off The Starlink Threat
- Prepare for the Next Wave of Factory Automation With These 3 Standout Names
Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
